Card payments industry prone to adopt end-to-end encryption technology

The report has been elaborated by Aite Group and it ponders on the course of action that end-to-end encryption follows based on the perspectives of providers of such services. In addition, the report considers the revenue models being adopted by E2EE vendors and speculates on the long-term prospects for E2EE adoption, standardisation of tokenisation, and the probability of a shift to EMV chip card infrastructure in the United States.

According to the Aite report, E2EE technology does not hinder the use of counterfeit or lost and stolen cards but it proves efficient in preventing criminals from accessing the card data itself. The E2EE is being increasingly adopted by merchants as well, since it enables their removal from the scope of Payments Card Industry Data Security Standards (PCI DSS). To prove the point, the report shows that vendors perceive merchants to be as likely to purchase E2EE solutions, in order to offload PCI DDS requirements, as they are to secure card data.

The providers of E2EE are generally point-of-sale hardware vendors, payments processors, or security vendors that partner with E2EE experts to offer such services.